- USD/INR is currently trading around 64.29 marks.
- It made intraday high at 64.33 and low at 64.29 marks.
- Intraday bias remains bearish till the time pair holds key resistance at 64.45 marks.
- Key resistances are seen at 64.45, 64.60, 64.85, 64.98, 65.09, 65.18, 65.34, 65.52 and 65.80 marks respectively.
- On the other side, initial supports are seen at 64.27, 64.18, 64.07, 63.95, 63.65, 63.47 and 63.36 marks respectively.
- In addition, India’s NSE Nifty was trading around 0.42 percent higher at 9,868.30 points and BSE Sensex was trading at 0.45 percent higher at 31,853.60 points.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/INR around 64.30, stop loss at 64.45 and target of 64.07.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
